Bulgaria's Bulgargaz Plans to Seek 6.61% Drop in Gas Prices in Q3

Bulgarian gas monopoly Bulgargaz said on Monday it plans to ask the regulator to approve a 6.61% decrease in the price at which the company sells natural gas to its wholesale clients in the third quarter of 2015.

The tariff of 489.10 levs ($279/250 euro) per 1,000 cu m proposed by Bulgargaz does not include Value Added Tax and excise duties, the company said in a notice on its website.

It reflects an expected drop in the price which Bulgargaz will pay for gas supplies in the July-September period, the company added.

Bulgargaz will make public its final proposal for third-quarter natural gas prices on June 10, upon submitting it with the energy regulator.

The adjustment in the wholesale tariff, made on a quarterly basis, must be approved by the energy regulator to take effect.

Bulgargaz is a subsidiary of the state-owned Bulgarian Energy Holding.

Bulgaria imports almost all the natural gas it needs from Russia through a pipeline crossing the territories of Ukraine, Moldova and Romania.

Source: SeeNews